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Global Innovation Fund 2022 (up to $15 Million)

Global Innovation Fund

Applications for the Global Innovation Fund 2022 are currently open. Global Innovation Fund GIF is an international foundation that collaborates with mission-aligned development agencies to uncover and fund evidence-based innovations that have the potential to improve the lives of millions of the world’s poorest people. Global Innovation Funds accepts submissions on a rolling basis; their application window is always open, with no funding round deadlines.

By taking calculated risks, the GIF fund complement existing development support. To achieve their mission, they use a variety of financial instruments to guide entrepreneurs through their journey to scale. Using a venture-style staged funding approach, more speculative ideas receive lower funding and increased funding following proof of concept and successful testing.

Any social organization, entrepreneurs, non-profit organizations, for-profit organizations, eligible companies, research institutions and even government agencies can apply for the fund.

Here are more details about the Global Innovation Fund

  • Country: Online
  • Financial coverage: Fully Funded
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    Eligibility Criteria :

    Here are the criteria for the Global Innovation Funds 2022:

    • Individual innovators, researchers, and businesses applying through an associated organization are commendable.
    • Any form of organization is eligible to apply for funding.
    • They are particularly interested in innovations that benefit those living on less than $2 per day (PPP) or vulnerable groups such as girls and women, minority or indigenous peoples, disabled people, communities, displaced refugees, or other vulnerable populations.
    • Any country includes social enterprises, non-profit organizations, for-profit businesses, government agencies, international organizations, and research institutions.
    • The contender can be headquartered anywhere in the world, but the innovation must benefit people in developing nations who live on less than $5 per day (PPP).

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    Benefits :

    GIF uses a tiered funding system, in which the quantity of funds available is depleted based on the extent of most activities and renovation. The three tires are listed below:

    Transition and test: 

    • The idea has previously shown promise on a small scale, and you have some operational, financial, and social viability data that you’d like to confirm before scaling up.
    • Up to USD 2.3 million in financing is available to support further growth and create additional evidence on whether the invention can have a societal impact on the market’s ability to sustain commercial innovations.

    Pilot:

    • The innovation is still in its early stages, but the organization has a solid plan for how it will be developed and tested in the real world.
    • Financing of up to USD 230,000 is available to test key financial and social feasibility assumptions.

    Scale: 

    • The innovation has a solid evidence-based, a logistically sound plan for reaching millions of people.
    • Up to USD 15 million in funding is available to broaden the reach of innovations to reach millions of people eventually.

    While they are open to submissions from any sector in any developing country, they have specific criteria for determining whether the application is a good fit.

    • Evidence: They expect evidence of word works to inform innovations. This evidence could focus on how your solution can be deployed or scaled successfully or how to evidence how your solution can be deployed or scaled successfully.
    • Team: They are looking for innovations backed up by teams that can demonstrate a deep understanding of the problems they are addressing and the context in which they are working. Applicants should also demonstrate a track record and skills in leveraging and leveraging the partnerships needed to succeed and navigate the challenges that come with scaling innovations.
    • Scale: GIF only invests in innovations that have the potential to benefit millions of people around.
    • Target market: They invest in innovations that benefit those who live on the equivalent of $5 per day and are particularly interested in finding innovative solutions that benefit those who live on less than $2 per day or other vulnerable or disadvantaged populations.
    • Impact and innovation: The method must be novel and unique, and the applicant must be able to illustrate how it differs from existing alternatives.

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    Application Process:

    • Applicants can apply online through a simple application form.
    • Read the guidelines carefully before deciding whether or not to spend time preparing an application.
    • Global Innovation Fund accepts applications on a rolling basis, which means there are no deadlines or funding rounds.

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